Payday loans aren’t the answer
If you ever find yourself searching for payday loans…stop!
These short-term money stop-gaps may appear attractive at first glance, but they’re devilishly designed to trap you in a cycle of debt. We get it. There are hundreds of reasons why people flock to payday lenders. An unexpected bill. Car repairs. Rent. Mortgage payments. Maybe it’s to pay for something special, like a holiday. Remember those? Sometimes we just need a few extra quid to help us get to the end of the month. Whatever the reason, payday loans are definitely never the answer.
Don’t let bad credit lead to bad decisions
Unscrupulous payday lenders prey upon society’s most vulnerable. They target individuals with poor or no credit; people who may be too embarrassed to ask family or friends for a loan; people who simply feel like they have ‘no choice’. There’s always a choice. You just have to make sure you have all the facts to hand before arriving at a decision that can impact your life for weeks, months, or even years to come.
One of the main reasons people ignore the extortionately high interest rates attached to payday loans is the fact lenders trumpet the speed of loan decisions, whilst downplaying the sky-high interest rates and targeting of those with poor credit history. ‘Payday loans bad credit’ is a popular combination on search engines.
At Pennine Community Credit Union, we fully understand that people have had issues with bad credit in the past. The odd late payment can wreak havoc with a credit rating, even if you’re usually somebody who is always on top of their finances. This is why we carefully assess each applicant’s personal circumstances when looking at loan applications. Our loan decisions are based on affordability – not just credit scores – and these decisions are made by highly trained members of staff, not computers. We believe a person’s financial situation should be fully understood prior to a loan decision being made. This means we’re able to tailor repayments accordingly, providing you with a fair and manageable path out of debt.
A name you can trust when it comes to short-term loans
PCCU knows just how easy it is for unforeseen costs to creep up on you. We’ve been in this game for almost four decades, and we’ve seen it all. As an ethical not-for-profit financial, it is our job to help you, along with thousands of other local account holders, in times of financial difficulty. We offer low rates of interest, quick loan decisions, and there’s no set-up or early settlement fees for you to worry about, giving you the opportunity to avoid additional interest with zero penalties.
The next time you’re online searching for payday loans, search ‘payday loan horror stories’ instead. And then pick up the phone, ring PCCU on 01282 691333, and let us help you make the right decision.
Affordable PCCU Loan
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